Thank You to 2018 Affordable Housing Credit Improvement Act Leaders: Cantell, Curbelo, Hatch, Neal
NCSHA expresses gratitude to Senator Maria Cantwell, Senator Orrin Hatch, Representative Carlos Curbelo, and Representative Richard Neal for their leadership in achieving the Housing Credit victories — the temporary volume cap increase and permanent income averaging — provided in the Consolidated Appropriations Act of 2018.
Your work to win the cap increase will result in affordable homes for approximately 28,400 additional low-income households — including families, seniors, veterans, persons with disabilities, and more. The cap increase will also facilitate the creation of 32,000 jobs; $2.7 billion in business income; and more than $1 billion in federal, state, and local tax revenue. The new income averaging provision will make the Housing Credit better able to meet affordable housing needs in both rural and high-cost urban areas, preserving rigorous targeting to low-income households, while providing greater program flexibility and income-mixing potential. As the administrators of the program, state HFAs understand how critical this success is to their work and so appreciate your tireless support for affordable housing.